CIBN seeks creation of Education Development Bank


By Collins Nweze

 

THE Chartered Institute of Bankers of Nigeria (CIBN) has reiterated its call for the creation and full implementation of Education Development Bank to facilitate the achievement of 21 per cent budget ratio for education prescribed by United Nations Development Programme (UNDP).

President/Chairman of Council, CIBN, Uche Olowu, who made the call during a Stakeholders Engagement with President Muhammad Buhari, said the bank would manage all subsisting intervention funds set up toward ensuring education for all and enhancing its quality in the country.

According to him, the establishment of the bank would provide the platform for all the strategic stakeholders in the education sector to access short to long term loans at single digit interest.

The Institute expressed concerns on the erroneous public impression that banks are making huge profits at the expenses of the other sec tors of the economy without any empirical evidence.

Olowu further expressed the concerns…



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